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those aren’t mutually exclusive. You can invest in a mutual fund from a Roth IRA account
IRAs and 401(k)s are similar investment vehicles with different annual contribution limits; 18k for 401(k) and 5.5k for IRA. Both have traditional and Roth options. With traditional you contribute tax-free but withdrawals are taxed, and with Roth you contribute after-tax earnings but withdraw tax free. There are advantages to each, but you should really just have some of both for diversification purposes. Mutual funds are one type of investment you can have through these investment vehicles. The easiest thing to do is put all your money in a target date fund for the year you plan on retiring (something around 2055). It will track major indices and automatically rebalance into a more risk-averse portfolio as you age.
I agree everything above- good to diversity- we hypothetically don’t know what tax rates will be when we retire (although considering this country’s unfunded liabilities...) That said, absolutely nothing is certain- laws can change wrt these accounts- so diversify and hope for the best. If you have an option of a Roth 401k, it’s a helpful way to effectively increase the dollar limit (if you’re against it).
It seems like there's maximum flexibilty with a mutual fund or stocks (buy n hold long) compared to roth IRA (let alone obvious limitation on annual contributions to IRA). I lost interest in IRA. . I think the target retirement accounts might be too conservative - take some acceptable risk and go with large cap growth fund and some % to small cap funds. . Finally if you live in a high tax state, perhaps do pre-tax 401(k) in case you retirement in a state w/o inc. Tax (Florida, texas, nevada, Washington) and avoid state tax completely.